MS HB1325

Authorizes issuance of up to $5,000,000 in state general obligation bonds to fund improvements at Hawkins Field Airport in Jackson, including preservation and renovation of the historic terminal building, entrance relocation, and facility upgrades.

Creates a special fund designated the "2019 Jackson Municipal Airport Authority Hawkins Field Airport Improvements Fund" within the State Treasury to receive bond proceeds and disburse funds at the discretion of the Department of Finance and Administration.

Bonds may be issued at any time up to July 1, 2023, with maturity dates not exceeding 25 years, and shall bear the full faith and credit pledge of the State of Mississippi.

Upon completion, abandonment, or inability to timely complete the airport projects, any remaining fund amounts shall be applied to pay debt service on the bonds.

Bonds are exempt from state taxation and qualify as legal investments for trustees, fiduciaries, banks, and insurance companies; bond proceeds must be used solely for the authorized airport improvements and related issuance costs.